The Exchange has received Disclosure under Regulation 31(1) and 31(2) of SEBI (Substantial Acquisition of Shares & Takeovers) Regulations, 2011 on November 24, 2025 for Arun Kumar Poddar
CHOICEIN · price
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Promoter Arun Kumar Poddar has disclosed creation of a pledge over 6,00,000 shares (0.28% of total share capital) of Choice International Ltd in favour of ICICI Bank, dated 14 November 2025. The pledge has been created as collateral security for a credit facility availed by a third party. Before this event, Mr. Poddar held nil encumbered shares; after this, 6,00,000 shares (0.28%) of his holding stand pledged. Separately, the disclosure also lists existing pledges by three other promoter-group entities totalling 1,61,57,000 shares (7.73% of share capital), bringing the aggregate promoter-group encumbrance to 8.01% post the new pledge.
This is a relatively small pledge creation (just 0.28% of capital) by one promoter and is for a third party's borrowing rather than the company's own needs. It is not large enough to materially affect share price or raise default concerns, but investors may note that the promoter group's aggregate pledged shares now stand at 8.01% of capital.